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Imperial Tobacco has pledged to enter the fast-growing electronic cigarette
market in an effort to catch up with competitors such as British American
Tobacco.

The maker of Gauloises and Davidoff cigarettes has been trailing BAT and
Philip Morris International in developing alternative nicotine products and
e-cigarettes in response to stricter government constraints on smoking.

Today the company said: “We continue to make good progress with our
initiatives in the e-vapour sector through our subsidiary Fontem Ventures
and remain on track to launch our own products in 2014”.

Imperial’s shares rose 2 per cent to £21.97 this morning, valuing the company